UAE’s telecom giant, du, also known as Emirates Integrated Telecommunications Company (EITC), has recently obtained a licence from the Central Bank of the UAE (CBUAE) to offer new digital financial services. This significant achievement places du at the forefront of the evolving fintech landscape in the region and supports the UAE’s dedication to encouraging innovation, competition, and financial inclusion to create a cashless society.
With these licences in hand, du is now poised to introduce cutting-edge financial solutions that will contribute to the development of an advanced, modern financial ecosystem across the UAE. This move will enable du to provide a range of digital financial services that cater to the changing needs and preferences of customers in the digital age.
Fahad Al Hassawi, the CEO of du, expressed his belief that the UAE’s commitment to fostering fintech innovation collaboration is evident in the awarding of these licences. He highlighted that du’s entry into the digital financial services space will enhance the financial landscape of the UAE by offering customer-centric solutions that will drive growth and development.
du’s goal is to empower individuals and businesses with convenient, secure, and efficient solutions that streamline their financial transactions and address their diverse needs. This strategic move aligns with the UAE’s ongoing efforts to promote financial technology and ensure the country remains a leader in global fintech innovation.
By securing these licences, du is well-positioned to drive innovation in the digital financial services sector and contribute to the continued growth and development of the financial industry in the UAE.
